The global Bio-based Platform Chemicals market was valued at US$ 9270 million in 2020 and it is expected to reach US$ 18440 million by the end of 2027, growing at a CAGR of 10.2% during 2021-2027.
Platform chemicals represent a group of twelve (one not commercialized yet) building block chemicals that can be produced from sugars via biological conversions.
Increasing acceptance of bio-based platform chemicals in industries, stringent government guidelines on conventional petroleum based chemicals and preference towards environmental friendly applications by consumers are main drivers for Bio-based Platform Chemicals market. The evolution of bio-refineries has driven the development of bio-based platform chemicals as an alternative to petrochemicals. Due to increasing government concerns regarding health, the environment and limited fossil resources, there is a growing interest in using sustainable technologies to produce chemicals, plastics, and other products from renewable resources. The bio-based platform chemicals offer great potential for decarbonizing everyday products, allowing everything from running shoe soles to plastics and car parts, to become bio-based. These trends are successful in creating a huge demand for bio-based platform chemicals market. Though North America is the largest regional market for global bio-based platform chemicals market, Asia-Pacific is also an equally important market as it represents the second largest and regional market with highest growth rate during the forecast period.
Global Bio-based Platform Chemicals Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Bio-based Platform Chemicals Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Basf, Cargill Incorporated, Dsm, Ineos, PTT Global Chemical Public Company and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Segment by Type
- Bio-Glutamic Acid
- Bio-3-Hydroxypropionic Acid
- Bio-Itaconic Acid
Segment by Application
- Bio Fuels
- Bio Plastics
- Food Applications
- Industrial Chemicals
Table of Content:
1 Bio-based Platform Chemicals Market Overview
2 Bio-based Platform Chemicals Market Competition by Manufacturers
3 Bio-based Platform Chemicals Retrospective Market Scenario by Region
4 Global Bio-based Platform Chemicals Historic Market Analysis by Type
5 Global Bio-based Platform Chemicals Historic Market Analysis by Application
6 Key Companies Profiled
7 Bio-based Platform Chemicals Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Bio-based Platform Chemicals Market Dynamics
10 Global Bio-based Platform Chemicals Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta
Peter Barzilai is a high school pitcher and college rower turned longtime World News journalist. Peter has also written for Buzz Feed and Huffington Post and many other major publications, Peter Loves everything about sports and loves to write on trending topics and he is DailyFactsNTrends member since 2017.